Mid Atlantic Real Estate Journal — New Jersey — March 15 - 28, 2013 — 11B
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N orthern N ew J ersey
arcus and Millic- hap Real Estate Investment Ser- Banner year in 2012 The Gambuzza teamof Marcus and Millichap exceeds 2011 M
Metro Commercial represents tenant Summit Realty & Cushman & Wakefield handles 58,546 s/f lease
v i c e s a n - nounced the 2012 results of The Gam- buzza Team. Nat Gam- buzza , vice president of investments
Sutton Plaza on Route 206 in Flanders
Flanders, NJ — Bob Delia of Summit Realty, LLC announced that Weis Markets has signed a lease for 58,546 s/f at Sutton Plaza on Route 206 in Flanders. The landlord was represented by Delia and Rick Rizzuto of Cushman & Wakefield . The tenant was represented by
Glen Marvin of Metro Com- mercial Realty . Sutton Plaza is a 163,500 s/f Shopping Center owned by Armstrong Capital . Tenants include Tractor Sup- ply, Dollar Tree, GNC, PNC and Super Cuts. Weis Markets has leased the space formerly oc- cupied by A&P. n
Nat Gambuzza
and director of the National Multi Housing Group and his team including, associ- ates Lauren Federgreen and Brian Antognini . To- gether they had 25 closings in calendar year 2012. Total sales volume was in excess of $101,905,000 which included 1276 apartment units and 50,854 s/f. of leased commer- cial space. Some notable transactions during the year include the sale of Oak Leaf Village in North Brunswick (184 units), 133 bank owned units in Plainfield, 162 units in Nep- tune, and the Vine Street Apartments, totaling 68 units in Elizabeth. “We are seeing strong de- mand for all types of apart- ment properties throughout the state,” said Gambuzza; “value-add, core, and project based Section 8 properties are all in demand, but cater to different buyer pools.” He also shared his expectation, “Extremely competitive buy- ing activity leads us to believe 2013 will show continued up- ward pressure on pricing.” n SELA Properties purchases mixed use property for $825,000 Passaic, NJ — SELA Properties announced a pur- chas in Passaic County. The company recently purchased a 14 unit apartment and a store. SELA is also under contract with the same owner for an ad- ditional building on the same street. The purchase price was $825,000 and the buyers were able to obtain seller financing. Anne Abramson of Koval Commercial Properties represented both seller and buyer for these transactions. SELA is currently under con- tract for more than 100 units this year. They have expanded their acquisitions to all areas of NJ.
Oak Leaf Village
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